(Photo courtesy of PND/PCO)
Canadian Prime Minister Mark Carney is set to attend the 49th Association of Southeast Asian Nations (ASEAN) Summit in Manila this month as Canada seeks to finalize free trade agreements with the Philippines and the regional bloc.
In a statement Thursday, the Office of the Canadian Prime Minister said Carney would work toward concluding negotiations on the proposed Canada-Philippines Free Trade Agreement (FTA), which is projected to triple bilateral trade by 2035.
Carney will also push for the completion of the ASEAN-Canada FTA, which is expected to generate more than CAD 3.5 billion in additional export opportunities.
“Canada has what the world wants: the energy, the resources, the talent, the technology, and the capital. We are building our strength at home and diversifying our partnerships abroad. Canada is boldly unleashing our enormous potential, and we are just getting started,” Carney said.
Canada and the Philippines formally launched negotiations for a bilateral free trade agreement in 2025, initially targeting the signing of the deal before the end of that year.
In July, Carney and President Ferdinand Marcos Jr. reaffirmed their commitment to accelerating negotiations during their meeting in Vancouver.
The proposed agreement aims to expand market access, strengthen investment opportunities and deepen economic cooperation between the two countries.
Electronics and machinery are among Canada’s major imports from the Philippines, while Canadian exports to the country include mineral ores, meat, cereals, aerospace components and fertilizers.
Carney’s participation in the ASEAN summit will mark his first official visit to the Philippines since assuming office.
The visit also comes as Canada seeks to diversify its international trade partnerships and strengthen economic engagement with Southeast Asia.
In 2025, merchandise trade between Canada and ASEAN reached CAD 52.5 billion, representing a 23.7-percent increase from the previous year.
The proposed trade agreements are expected to further expand commercial ties between Canada, the Philippines and other ASEAN member states, although negotiations have yet to be finalized.
